New Delhi, Jul 28 (PTI) Foldable smartphones market share in the ultra-premium segment, priced above Rs 45,000 apiece, is expected to grow more than four times to 35 per cent in India, Counterpoint Research said on Friday.

Foldable smartphones market share in the first half of 2023 stood at about 8 per cent, the market research firm said.

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"In 2023 (till June), Foldables constituted 8 per cent of ultra-premium (over Rs 45,000) Android smartphone shipments, a number projected to surge to 35 per cent by the end of 2025," Counterpoint Research said in a report.

According to the research firm's estimate India's Foldable Smartphone accounts for only about 1 per cent of the overall mobile market in India.

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The report said clamshell smartphones among the foldable designs are particularly favoured by female users, accounting for 82 per cent of total foldable shipments in the first half of 2023 due to their affordability.

"Localisation of manufacturing, exemplified by flagship devices like Samsung Z Fold 5 and Flip 5 being produced in India, is fuelling the market's growth," Counterpoint said.

The market research firm estimates that the anticipated entry of more mobile phone makers into the foldable space will further invigorate the market.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)